Trump 'Not Thrilled' with Fed Chairman Powell Over Rate Hikes

FILE PHOTO: U.S. President Donald Trump looks on as Jerome Powell, his nominee to become chairman of the U.S. Federal Reserve, speaks at the White House in Washington, U.S., November 2, 2017.

Meanwhile, Trump also said he did not expect much progress from trade talks with China this week in Washington.

"I asked him specifically about the independence of the Fed, and he reinforced the fact that their goal is to [address] unemployment, our economy, and that is their only objective", Scott (R-S.C.) said in an interview.

In his interview, Trump accused the European Union and China of manipulating their currencies, adding that Beijing was weakening the yuan to offset the effects of USA tariffs.

"This is helping Treasury prices to go out at the highs late today". This should push USA five-year and 10-year yields to go below levels which have held since June. The narrow gap between long-term and short-term Treasury yields shows investors see slower growth ahead, he said, and also suggest the USA economy is in the late stages of an economic expansion that looks headed to be one of the longest in history.

The Fed is expected to raise rates twice more this year. I doubt these comments move the needle for Powell and his colleagues, but it certainly sends a strong signal to those candidates interested in vying for one of the Fed Board's many open seats: "favor easy money policy or find another job".

Kaplan said he expects the USA economy to grow 3 percent this year but to slow next year as the effects of tax cuts fade. By nearly any matrix that can be used, they are succeeding.

"The Fed keeps calling for raising rates in a return to "normalcy.' I would argue, with all of the central bank intervention, here and overseas, that there was been no 'normalcy" for nearly a decade".

Beyond criticizing the Fed for raising rates, there's little Trump can do about it.

"Raising rates just slows the economy down". So what we have here is the president and the Congress trying to expand the economy while the central bank of the United States is going in exactly the opposite direction.

In developed economies, central banks are independent of political control.

Most policymakers believe the Fed can not raise rates much beyond 2.9 percent, a level they see as "neutral" for the economy, without borrowing costs really beginning to drag on growth.

STOCKS - The S&P 500 .SPX pulled back from a session high just before the 4 p.m. close following the news. The index closed up 0.24 percent. The benchmark rate is now in a range of 1.75 per cent to 2 per cent, and the Fed has indicated it is likely to hikes rates two more times before the end of the year.

The dollar index, which measures the greenback against a basket of six major peers, was down 0.4 percent at 95.494.

Recommended:

India's seamers bowled with controlled aggression and intelligence as they removed England's top four in the morning session. It's tough cricket , it tests you in all sorts of ways and yeah, it's definitely the proudest moment in an England shirt".

Jews were sent to the camps as part of Operation Reinhard , the Nazi plan to murder more than two million Jews in occupied Poland. Although a U.S. court ruled he had assisted in the persecution of prisoners, he was not found personally responsible for deaths.

The effort to re-write the plan is the latest move by Trump administration to roll back environmental rules put in place by Obama. President Trump has vowed to reinvigorate America's decaying coal-fired power plants and increase reliance on the fuel source.

Jews were sent to the camps as part of Operation Reinhard , the Nazi plan to murder more than two million Jews in occupied Poland. Immigration and Customs Enforcement agents implemented a deportation order against Jakiw Palij dating to 2004, the network said.

James Milner converted from 12 yards and then Sadio Mane made the game safe in stoppage time after Aaron Wan-Bissaka was sent off. There's no way he's looking to get contact on the player himself. "I don't want penalties for my team in that way".

Asked about the prospect of outgoing players, he said: "Nobody has told me anything [that] any transfer situation is decided". I couldn't care less , it's not important. 'We are not in a race with other Premier League teams each weekend.

Moderate activity such as walking the dog at a brisk pace will earn a point per minute whereas running will earn double this. What do you think of the new Fit? The amount of Heart Points you earn is also based on the intensity of the exercise.

Deputy Bill Dunn hugs the three-year-old girl he saved in June after she was left in a hot auto for more than 12 hours. He carried the child to his patrol vehicle , flung on the air conditioning and sat her down in front of it.

Daniel Murphy Reportedly Claimed Off Waivers
The team has acquired second baseman Daniel Murphy in a trade with the Washington Nationals , according to our own Jeff Passan. Adams, 29, was traded from the Cards last summer to the Atlanta Braves and signed a one-year deal with the Nats last winter.

The father of Meghan Markle shocking new statement
It resulted in him not attending the wedding to walk his daughter down the aisle, something he later said he cried over. The 74-year-old, who has never met Prince Harry , also said the Royals are "cult-like" and may have secret handshakes.